- 1 hour 26 minutesTIP856: Airbnb (ABNB): The Business Outgrew Its Peak, The Stock Hasn't w/ Kyle Grieve & Shawn O'Malley
In today’s episode, Kyle Grieve and Shawn O’Malley discuss whether Airbnb’s recent slowdown was a warning sign or just building the groundwork for its next growth phase. They explore how a company that owns no homes built one of travel’s strongest brands, and why AI agents could threaten or strengthen it. You’ll also learn how Brian Chesky’s founder-led approach and new growth levers are shaping the business’s future.
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro
(00:11:30) Why Airbnb barely noticed when it shut off advertising
(00:17:08) What really caused Airbnb’s growth and cash flow slowdown
(00:31:20) How Airbnb is winning market share from competitors
(00:33:32) Why AI chatbots could become travel’s new gatekeepers
(00:35:21) The asset no competitor can buy, no matter their budget
(00:42:08) The hidden trade-off behind Airbnb’s Reserve Now, Pay Later
(00:56:54) Why Brian Chesky’s “founder mode” reshaped how Airbnb operates
(01:16:17) The fast-growing countries that could fuel Airbnb for decades
(01:19:55) How hotels became Airbnb’s backdoor customer acquisition channel
(01:24:29) Valuation discussion
(01:26:55) Intrinsic value of Airbnb
(01:29:10) Whether Kyle & Shawn will add to their Airbnb position in the Intrinsic Value Portfolio
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- If you are interested in a Community for investors to learn, share ideas, network, and join calls with experts: Apply for The Intrinsic Value Mastermind.
- If you are interested in more personal meet-ups, meeting superinvestors, and discussing investing and things that go beyond: Apply for The Mastermind: Inner Circle.
- Track The Intrinsic Value Portfolio.
- Portfolio Review Submit Tool.
- Our original pitch on Airbnb.
- Check out our previous Intrinsic Value breakdowns: Restoration Hardware, FICO, Copart.
- Follow Kyle on X and LinkedIn.
- Follow Shawn on X and LinkedIn.
- Related books mentioned in the podcast.
- Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
- Get smarter about valuing businesses through The Intrinsic Value Newsletter.
- Check out The Investor’s Podcast Starter Packs.
- Follow our official social media accounts: X | LinkedIn | Facebook.
- Try our tool for picking stock winners and managing our portfolios: TIP Finance.
- Enjoy exclusive perks from our favorite Apps and Services.
- Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS
Support our free podcast by supporting our sponsors:
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
29 October 2026, 12:00 am - 1 hour 18 minutesTIP855: Shopify (SHOP): The Big Winner of Agentic Commerce? w/ Shawn O'Malley & Daniel Mahncke
Shawn O’Malley and Daniel Mahncke revisit Shopify (NASDAQ: SHOP) fifteen months after Shawn pitched it, called it one of the best businesses they’d ever studied, and recommended passing on the stock at around $80 per share. Since then, the stock has nearly doubled, gross merchandise volume has grown more than 30% for five straight quarters, 2025 revenue rose 30% to over $11.5 billion, and Shopify paid off its convertible notes and launched its first-ever buyback program, now totaling $5 billion.
Shawn and Daniel grade their original analysis: what they got right about the business, what they got wrong about the numbers, and whether the decision-making process itself was flawed. They dig into how Shopify became central to agentic commerce through its Catalog of over a billion products, the Universal Commerce Protocol it co-developed with Google, and agentic storefronts inside ChatGPT, Gemini, and Copilot. They also cover Amazon blocking Meta’s Muse agent while Shopify partnered with it, the bear case that merchants will vibe-code their own stores, Sidekick’s rapid adoption, and whether a great business is worth owning at 112 times operating profits.
IN THIS EPISODE YOU’LL LEARN:(00:00:00) Intro
(00:08:42) What Shawn and Daniel got right and wrong when they passed on Shopify in 2025
(00:09:02) How to grade an investment decision without falling for hindsight bias
(00:16:07) How Shopify sustained more than 30% GMV growth for five straight quarters
(00:17:12) Why Shopify merchants captured nearly half of all new U.S. e-commerce dollars
(00:23:28) Valuation discussion of Shopify
(00:32:30) What agentic commerce is and how Shopify’s Catalog and Universal Commerce Protocol power it
(00:49:22) Why AI shopping may favor independent brands over Amazon and Etsy
(01:03:14) Why merchants are unlikely to vibe-code their way off Shopify
(01:08:53) What Ben Graham’s P/E matrix says Shopify is worth today
(01:11:56) Whether Shawn and Daniel will add Shopify to the Intrinsic Value Portfolio
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Apply for The Intrinsic Value Mastermind Community where investors learn, share ideas, network, and join calls with experts.
- Apply for The Mastermind Inner Circle to connect with the most successful investors, executives, and business leaders from our audience.
- Track The Intrinsic Value Portfolio.
- Portfolio Review Submit Tool.
- Our original podcast deep-dive on Shopify.
- Shopify’s Q2 2026 results.
- Shopify’s Spring ’26 Edition: Selling everything, everywhere, all at once.
- Tobi Lütke on Uncapped with Jack Altman (#50).
- Ben Thompson’s Stratechery interview with Michael Morton on e-commerce in the age of AI.
- Shopify’s Tinker announcement and “Commerce at the speed of culture” data study.
- Shopify at the Goldman Sachs Communacopia + Technology Conference (September 2026).
- The Graham-Dodd P/E Matrix.
- Our updated Shopify valuation model.
- Check out our previous Intrinsic Value breakdowns Shopify, Uber, Nike, Reddit, Nintendo, Airbnb, AutoZone, Alphabet, Ulta, John Deere, Madison Square Garden Sports.
- Related books mentioned in the podcast.
- Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
- Get smarter about valuing businesses through The Intrinsic Value Newsletter.
- Check out The Investor’s Podcast Starter Packs.
- Follow our official social media accounts: X | LinkedIn | Facebook.
- Try our tool for picking stock winners and managing our portfolios: TIP Finance.
- Enjoy exclusive perks from our favorite Apps and Services.
- Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS
Support our free podcast by supporting our sponsors:
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
25 October 2026, 12:00 am - 1 hour 12 minutesTIP854: GE Aerospace: Chris Hohn’s Biggest Bet w/ Daniel Mahncke & Shawn O'Malley
Daniel Mahncke and Shawn O’Malley follow up last year’s TransDigm pitch with the biggest monopoly in aviation: GE Aerospace (NYSE: GE), the engine maker behind nearly three out of every four commercial flights in the world. With roughly 50,000 commercial and 30,000 military engines in service, GE has the largest installed engine base worldwide. That’s the reason Chris Hohn bets about 30% of his $50+ billion portfolio on it.
Daniel and Shawn dig into the mechanism behind how GE sells its engines at roughly zero margin because every engine comes back as three and a half times its sale price in spare parts and shop visits over 25 to 30 years. They also cover the Cold War deal that put a GE engine core in a locked room in France, how Larry Culp turned a company Nelson Peltz was sure would file for Chapter 11 into three companies worth more than $600 billion, and whether Heico’s copycat parts and the regulators now circling the engine aftermarket can dent the pricing. In the end, they walk through the valuation model and decide whether the best business in aviation is worth its price — and whether GE earns a spot in The Intrinsic Value Portfolio.
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro
(00:03:44) About the history of aviation and GE
(00:14:15) Why engines became a political product
(00:25:58) What makes GE such a great compounder
(00:26:58) Why the aftermarket is so attractive
(00:28:16) Why GE is the pinnacle of aerospace
(00:57:09) How CEOs destroyed and turned around the business
(01:06:22) What GE’s stock is worth
(01:14:51) Whether GE will be added to The Intrinsic Value Portfolio
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Apply for The Intrinsic Value Mastermind Community where investors learn, share ideas, network, and join calls with experts.
- Apply for The Mastermind Inner Circle to connect with the most successful investors, executives, and business leaders from our audience.
- Track The Intrinsic Value Portfolio.
- Portfolio Review Submit Tool.
- Rijinkberg investing GE Aerospace Deep Dive.
- Culp Capital Group Interview.
- Investing Breakdown’s Episode on GE Aerospace.
- Check out our previous Intrinsic Value breakdowns: TransDigm, Heico Vs. TransDigm, Copa Holdings.
- Related books mentioned in the podcast.
- Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
- Get smarter about valuing businesses through The Intrinsic Value Newsletter.
- Check out The Investor’s Podcast Starter Packs.
- Follow our official social media accounts: X | LinkedIn | Facebook.
- Try our tool for picking stock winners and managing our portfolios: TIP Finance.
- Enjoy exclusive perks from our favorite Apps and Services.
- Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS Support our free podcast by supporting our sponsors:
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
22 October 2026, 12:00 am - 2 hours 33 minutesRWH074: True Wealth w/ Matt Ludmer
In this episode, William Green speaks with Matt Ludmer, the founder & CEO of Aligned Wealth Management. Matt is a financial adviser to wealthy individuals & families, including clients who have entrusted him with tens or even hundreds of millions of dollars. After decades working on Wall Street, he came to realize he’d misunderstood the meaning of wealth. That revelation led him to write a new book, “The Right Mountain: Practical Wisdom for Achieving True Wealth.” Here, he explores how to build a fulfilling life that includes—& transcends—financial success.
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro
(00:06:33) How Matt started out shining shoes & selling frozen food.
(00:18:56) Why Matt Ludmer reveres his father as his greatest teacher.
(00:23:50) How he scored an investment adviser job at Morgan Stanley.
(00:32:54) What happens when our hunger for success goes too far.
(00:54:46) How to diagnose where your life is out of balance.
(01:01:48) How loneliness led Matt to create a “heartfelt community.”
(01:36:44) Why many top investors view meditation as a smart investment.
(01:40:35) How to build rich relationships by meeting people where they are.
(01:55:06) How his confidence in stocks is built on a century of data.
(02:09:22) Why it’s psychologically shrewd to divide your assets into three pots.
(02:15:09) Why Matt prefers low-cost ETFs to actively managed funds.
(02:17:13) How to find a career—& design a life—that lights you up.
(02:30:48) Why the ultimate prize is unconditional contentment.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Inquire about William Green’s Richer, Wiser, Happier Masterclass.
- Matt Ludmer’s book, “The Right Mountain.”
- Napoleon Hill’s book, “Think and Grow Rich!”
- Krishnamurti’s book, “Commentaries on Living.”
- Lee Eisenberg’s book, “The Number.”
- Daniel Goleman & Tsoknyi Rinpoche’s book, “Why We Meditate.”
- Tara Bennett-Goleman’s book, “Emotional Alchemy.”
- William Green’s podcast with Tsoknyi Rinpoche & Daniel Goleman.
- William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book.
- Follow William Green on X.
- Related books mentioned in the podcast.
- Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
- Get smarter about valuing businesses through The Intrinsic Value Newsletter.
- Follow our official social media accounts: X | LinkedIn | Facebook.
- Try our tool for picking stock winners and managing our portfolios: TIP Finance.
- Enjoy exclusive perks from our favorite Apps and Services.
SPONSORS
Support our free podcast by supporting our sponsors:
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
18 October 2026, 12:00 am - 1 hour 23 minutesTIP853: Aritzia (ATZ.TO): The Women's Apparel Brand Conquering the US, plus Nike, Lulu, and More w/ Kyle Grieve & Shawn O'Malley
In today's episode, Kyle Grieve and Shawn O’Malley discuss Aritzia, the everyday luxury fashion brand that has become one of retail's most impressive compounders. They explore how a small boutique in the corner of a department store grew into a brand with exceptional store-based economics, a spotless balance sheet, and a huge untapped opportunity across America. With the stock falling even as the business posts some of its best growth ever, they debate whether this is a rare chance to own a durable compounder or a hot brand nearing its peak.
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro
(00:03:04) What Lululemon's struggles reveal about investing in retail brands
(00:10:59) Why Aritzia's stores outsell most of their mall neighbours
(00:15:37) How Aritzia turned a tariff headache into rising margins
(00:25:32) Why some fashion brands fade while others keep compounding
(00:27:57) The one competitive advantage behind Aritzia's decades of growth
(00:53:48) Why management turned down cheap money when everyone else borrowed
(01:03:33) The biggest risk that could end Aritzia's run
(01:20:05) Valuation discussion on Aritzia
(01:24:16) Intrinsic value of Aritzia
(01:25:12) Whether Kyle & Shawn will add Aritzia to the Intrinsic Value Portfolio
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- If you are interested in a Community for investors to learn, share ideas, network, and join calls with experts: Apply for The Intrinsic Value Mastermind.
- If you are interested in more personal meet-ups, meeting superinvestors, and discussing investing and things that go beyond: Apply for The Mastermind: Inner Circle.
- Track The Intrinsic Value Portfolio.
- Portfolio Review Submit Tool.
- Check out our previous Intrinsic Value breakdowns: Lululemon, Nike, Hermes, LVMH.
- Follow Kyle on X and LinkedIn.
- Follow Shawn on X and LinkedIn.
- Related books mentioned in the podcast.
- Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
- Get smarter about valuing businesses through The Intrinsic Value Newsletter.
- Check out The Investor’s Podcast Starter Packs.
- Follow our official social media accounts: X | LinkedIn | Facebook.
- Try our tool for picking stock winners and managing our portfolios: TIP Finance.
- Enjoy exclusive perks from our favorite Apps and Services.
- Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS
Support our free podcast by supporting our sponsors:
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
15 October 2026, 12:00 am - 1 hour 28 minutesRWH073: Unstoppable w/ Sir Michael Moritz
In this episode, William Green speaks with multibillionaire Sir Michael Moritz, arguably the most successful venture capitalist ever. He spent nearly four decades at Sequoia Capital, which invested in early-stage companies like Nvidia, Google, YouTube, PayPal, Airbnb, LinkedIn & Stripe. Here, he talks about his unconventional path to success, the role of temperament in investing, & what he learned from observing Steve Jobs, Bill Gates, Jensen Huang & Elon Musk.
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro
(00:04:50) Why Michael Moritz has always felt like an outsider.
(00:14:05) How his family’s survival was built on the kindness of others.
(00:26:16) How his relentlessness became the key to his success.
(00:29:26) How Oxford & Time magazine prepared him for investing.
(00:38:27) How the novelist Philip Roth changed his life.
(00:44:06) What Michael learned from observing Bill Gates up close.
(00:57:28) What made Steve Jobs special.
(01:02:46) Why it’s so hard to predict which founders will succeed or fail.
(01:06:36) Why investors must be open enough to learn from younger people.
(01:09:20) What Charlie Munger identified as Michael’s investing edge.
(01:14:02) What soccer legend Sir Alex Ferguson taught Michael about leadership.
(01:18:05) Why he views Elon Musk as the greatest industrialist in US history.
(01:21:32) What Michael learned from his wife & children.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Inquire about William Green’s Richer, Wiser, Happier Masterclass.
- Michael Moritz’s book, “Auslander.”
- Michael Moritz’s book “Return to the Little Kingdom.”
- Alex Ferguson & Michael Moritz’s book, “Leading.”
- Alex Ferguson & Michael Moritz’s book, “The Games of My Life.”
- Philip Roth’s book “Sabbath’s Theater.”
- William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book.
- Follow William Green on X.
- Related books mentioned in the podcast.
- Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
- Get smarter about valuing businesses through The Intrinsic Value Newsletter.
- Follow our official social media accounts: X | LinkedIn | Facebook.
- Try our tool for picking stock winners and managing our portfolios: TIP Finance.
- Enjoy exclusive perks from our favorite Apps and Services.
SPONSORS
Support our free podcast by supporting our sponsors:
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
11 October 2026, 12:00 am - 1 hour 15 minutesTIP852: Hermès and LVMH Stock: Time to Buy Luxury? w/ Daniel Mahncke & Shawn O'Malley
Daniel Mahncke and Shawn O’Malley revisit the two luxury houses they passed on last time — Hermès (EPA: RMS), the 189-year-old maker of the Birkin bag, and LVMH (EPA: MC), the 75-brand conglomerate behind Louis Vuitton, Dior, Tiffany, and Hennessy. Both stocks now sit near their lows: Hermès is down more than 50% from its February 2025 peak and trades at 32 times earnings for the first time in a decade, while LVMH has fallen to a five-year low after two straight years of declining sales — something that didn’t even happen in 2009. The luxury industry has lost roughly 70 million customers since 2022, the Chinese market that tripled between 2017 and 2021 has been shrinking ever since, and a war in the Gulf emptied the stores on the Champs-Élysées of their best-spending tourists.
But some brands are growing. Daniel and Shawn work out why Richemont can grow 20% in the same quarter LVMH grows 3%, why Hermès still earns a 41% margin while LVMH’s fashion and leather division has given back seven points of margin in five years, and why the top 0.1% of luxury clients keep spending while the aspirational buyer walks away. They also cover the Chinese property bust and its five-to-six-year playbook, and how prior luxury downturns in 2009, 2016, and 2020 ended. In the end, Daniel updates both valuation models and decides whether either Hermès or LVMH finally earns a spot in The Intrinsic Value Portfolio.
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro
(00:02:35) About the state of the luxury market
(00:15:58) How Hermès’ business has done since our first pitch
(00:20:22) What makes LVMH and Hermès special
(00:31:30) How LVMH’s business has done since our first pitch
(00:33:23) How China is impacting the luxury market
(00:39:12) How long past luxury downturns were
(01:02:33) Why Hermès has an even better chance of recovering quickly
(01:09:10) Valuation discussion
(01:10:43) Intrinsic value of RMS
(01:12:26) Intrinsic value of LVMH
(01:12:51) Whether LVMH or RMS will be added to The Intrinsic Value Portfolio
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- If you are interested in a Community for investors to learn, share ideas, network, and join calls with experts: Apply for The Intrinsic Value Mastermind.
- If you are interested in more personal meet-ups, meeting superinvestors, and discussing investing and things that go beyond: Apply for The Mastermind: Inner Circle.
- Track The Intrinsic Value Portfolio.
- Portfolio Review Submit Tool.
- Original Episode on Hermès.
- Original Episode on LVMH.
- BCG Sector Analysis.
- Check out our previous Intrinsic Value breakdowns: Restoration Hardware, Formula One Group, Hermès, LVMH.
- Related books mentioned in the podcast.
- Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
- Get smarter about valuing businesses through The Intrinsic Value Newsletter.
- Check out The Investor’s Podcast Starter Packs.
- Follow our official social media accounts: X | LinkedIn | Facebook.
- Try our tool for picking stock winners and managing our portfolios: TIP Finance.
- Enjoy exclusive perks from our favorite Apps and Services.
- Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS Support our free podcast by supporting our sponsors:
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
8 October 2026, 12:00 am - 1 hour 17 minutesTIP851: HEICO Vs. TransDigm: Whose Aerospace Monopoly Is Better? w/ Kyle Grieve & Shawn O'Malley
In today’s episode, Kyle Grieve and Shawn O’Malley discuss HEICO and TransDigm, two dominant players in the aerospace components industry known for their pricing power and resiliency. They’ll compare how each company grows through acquisitions and organic expansion, how they approach debt and capital allocation, and what gives each business its durable competitive advantages. The discussion also covers the risks facing both companies, including regulatory scrutiny and reliance on continued aerospace demand, as well as potential sources of future growth.
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro
(00:06:41) How TransDigm built its sole-source pricing power model
(00:10:12) How HEICO competes by underpricing original equipment manufacturers
(00:16:14) Why the aerospace industry has such high barriers to entry
(00:19:35) Why both companies rely heavily on acquisitions to grow
(00:29:33) How each company’s approach to debt differs sharply
(00:33:26) Why regulators have started scrutinizing TransDigm’s acquisition strategy
(00:46:20) What gives HEICO and TransDigm such durable competitive advantages
(00:54:08) How ownership and incentive structures shape each management team
(01:07:30) What risks could disrupt either company’s long runway of growth
(01:11:33) Where future growth could come from for both businesses
(01:16:44) Valuation discussion
(01:19:19) Intrinsic value of HEICO
(01:20:07) Whether Kyle & Shawn will add HEICO or TransDigm to the Intrinsic Value Portfolio
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Join the exclusive The Intrinsic Value Mastermind Community.
- Track The Intrinsic Value Portfolio.
- Portfolio Review Submit Tool.
- Listen to the TransDigm episode with Daniel and Shawn.
- Listen to our HEICO episode with Clay Finck.
- Listen to the TransDigm Foundations with Nicholas Howley.
- Listen to TransDigm episode with Nicholas Howley.
- Read The Compounders book.
- Check out our previous Intrinsic Value breakdowns: Copart, Comfort Systems, SpaceX, Copa Holdings.
- Follow Kyle on X and LinkedIn.
- Follow Shawn on X and LinkedIn.
- Related books mentioned in the podcast.
- Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
- Get smarter about valuing businesses through The Intrinsic Value Newsletter.
- Check out The Investor’s Podcast Starter Packs.
- Follow our official social media accounts: X | LinkedIn | Facebook.
- Try our tool for picking stock winners and managing our portfolios: TIP Finance.
- Enjoy exclusive perks from our favorite Apps and Services.
- Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS
Support our free podcast by supporting our sponsors:
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
4 October 2026, 12:00 am - 1 hour 16 minutesTIP850: Walmart (WMT): From Discount Retailer to eCommerce Powerhouse w/ Kyle Grieve & Shawn O'Malley
In today’s episode, Kyle Grieve and Shawn O’Malley discuss Walmart and how it grew from Sam Walton’s small-town five-and-dime into a retail giant. Today, it also makes money from e-commerce, a marketplace, advertising and memberships. They cover the scale advantages behind Walmart’s everyday low prices, how its suppliers end up financing its inventory, and why its power over those suppliers continues to draw antitrust scrutiny. They also look at Walmart’s capital allocation, management, growth levers and the biggest risks facing the business.
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro
(00:02:12) How Sam Walton’s early franchise lessons shaped Walmart’s strategy
(00:11:10) Why trading margin for volume remains core to Walmart
(00:15:21) How Walmart makes money beyond traditional brick-and-mortar retail
(00:28:56) Why everyday low prices built lasting customer trust
(00:34:48) How negative working capital supports Walmart’s free cash flow
(00:38:01) What the PepsiCo case reveals about Walmart’s supplier power
(00:41:19) How Walmart splits capital between buybacks, dividends and reinvestment
(00:53:25) Why the Jet.com acquisition was a good acquisition despite the write-down
(01:05:52) Where Walmart’s future growth may come from
(01:10:14) How agentic AI shopping could threaten Walmart’s customer relationships
(01:15:27) Valuation discussion of Walmart
(01:16:58) Walmart's intrinsic value
(01:19:43) Whether Kyle & Shawn will add Walmart to the Intrinsic Value Portfolio
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Join the exclusive The Intrinsic Value Mastermind Community.
- Track The Intrinsic Value Portfolio.
- Portfolio Review Submit Tool.
- Buy your copy of Sam Walton’s autobiography Made In America.
- Check out our previous Intrinsic Value breakdowns: Lululemon, Nike, Ulta, Our Biggest Losers.
- Follow Kyle on X and LinkedIn.
- Follow Shawn on X and LinkedIn.
- Related books mentioned in the podcast.
- Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
- Get smarter about valuing businesses through The Intrinsic Value Newsletter.
- Check out The Investor’s Podcast Starter Packs.
- Follow our official social media accounts: X | LinkedIn | Facebook.
- Try our tool for picking stock winners and managing our portfolios: TIP Finance.
- Enjoy exclusive perks from our favorite Apps and Services.
- Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS
Support our free podcast by supporting our sponsors:
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
1 October 2026, 12:00 am - 1 hour 11 minutesTIP849: Average Returns Can Still Make You Wealthy w/ David Fagan
In this episode, Stig Brodersen speaks with David Fagan about Total Wealth Performance and why someone with average investment returns can still build a meaningful net worth. They discuss why saving is the first step in wealth creation, why financial independence is a matter of intention rather than luck, and how idle cash quietly becomes one of the most expensive decisions investors ever make.
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro
(00:04:20) Why David has been a saver ever since he blew his entire net worth on a Hot Wheels racetrack at age eight
(00:12:34) Why money decisions that look odd are often rational given someone's lived experiences
(00:13:56) Why financial independence is not luck but small habits that compound
(00:17:47) What Total Wealth Performance is, and why the return on your broker statement is not your real return
(00:22:29) How Stig thinks about financial independence
(00:29:34) The ABCs of front-end performance: availability, behavior, and configuration
(00:37:55) Why idle cash is one of the most expensive decisions an investor can make
(00:45:00) Why net worth beats portfolio returns as a scorecard during the accumulation phase
(00:54:13) How and why tax is a real expense
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Join the exclusive The Intrinsic Value Mastermind Community.
- Check out Stig and David's free educational resource, Compounding Simplicity.
- Watch David Fagan's free educational videos.
- Read Charles Schwab's study, Does Market Timing Work?
- Listen to our interview with David Fagan about Why Simplicity Beats Complexity.
- Listen to our interview with David Fagan about Simple Investing.
- Listen to our interview with David Fagan about investing like a business owner.
- Listen to our interview with David Fagan about Buffett's favorite business book.
- Connect with David on LinkedIn or through mbf Chartered Professional Accountants.
- Stig's blog post on his portfolio and track record since 2014.
- Related books mentioned in the podcast.
- Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
- Get smarter about valuing businesses through The Intrinsic Value Newsletter.
- Check out The Investor’s Podcast Starter Packs.
- Follow our official social media accounts: X | LinkedIn | Facebook.
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27 September 2026, 12:00 am - 1 hour 26 minutesTIP848: Meta (META): What the Market Misses? w/ Daniel Mahncke & Shawn O'Malley
Daniel Mahncke and Shawn O’Malley revisit Meta Platforms (NASDAQ: META), the advertising machine behind Facebook, Instagram, and WhatsApp that reaches 3.6 billion people every day — over 40% of the world’s population — and just grew ad revenue 27% to a nearly $240 billion annual run rate. Yet the stock trades more than 20% below its highs, because the money is going out even faster than it’s coming in: operating margins fell from 43% to 31% in a single year, quarterly free cash flow collapsed from $8.5 billion to $784 million, and capex guidance now sits at $130–145 billion this year — with analysts penciling in $200 billion for next.
Daniel and Shawn dig into what all that spending actually buys. Is this Mark Zuckerberg’s third failed attempt to turn Meta into a platform — after the FarmVille-era Facebook apps and a $100 billion metaverse — or does AI finally make the vision real, whether through AI glasses, a personal agent, a budding cloud business, or an ad engine where every pixel becomes sellable inventory? They also cover Meta’s $17 billion settlement with 47 states over teen safety, the special purpose vehicles keeping tens of billions of data-center debt off Meta’s balance sheet, why Apple is quietly taking the opposite side of Meta’s bet, and why Wall Street rewards Google for the same capex it punishes Meta for. In the end, Daniel rebuilds his valuation model from scratch and decides whether Meta finally earns a spot in The Intrinsic Value Portfolio.
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro
(00:01:54) About Zuckerberg’s Platform Dream
(00:11:52) Why Meta was sued and how it settled
(00:25:18) What the regulatory risk means for Meta’s future
(00:30:56) What Meta’s AI vision looks like
(00:39:00) How AI could revolutionize Meta’s Ads Business
(00:42:02) About the optionality of WhatsApp
(00:53:21) Why AI could make Meta glasses a success
(01:06:58) How Meta is planning to build a Cloud Business
(01:22:46) Meta's valuation discussion
(01:26:29) How much Meta's stock is actually worth
(01:26:51) Whether META will be added to The Intrinsic Value Portfolio
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Join the exclusive The Intrinsic Value Mastermind Community.
- Track The Intrinsic Value Portfolio.
- Portfolio Review Submit Tool.
- Our original deep-dive on Meta.
- Zuckerberg’s WSJ Article – The AI Future is for Everyone.
- Ben Thompson’s Research at Stratechery.
- Check out our previous Intrinsic Value breakdowns: Alphabet, Microsoft, SpaceX.
- Related books mentioned in the podcast.
- Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
- Get smarter about valuing businesses through The Intrinsic Value Newsletter.
- Check out The Investor’s Podcast Starter Packs.
- Follow our official social media accounts: X | LinkedIn | Facebook.
- Try our tool for picking stock winners and managing our portfolios: TIP Finance.
- Enjoy exclusive perks from our favorite Apps and Services.
- Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS Support our free podcast by supporting our sponsors:
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
24 September 2026, 12:00 am - More Episodes? Get the App